AceTraderFx Oct 31: DAILY MARKET OUTLOOK on Major - USD/JPY

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AceTraderFx Sept 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Sept 2019 09:30 GMT

USD/JPY - 107.76
Dollar's resumption of upmove from August's 33-month low at 104.46 to a fresh 5-week high at 107.84 today signals price would head to 108.42 after consolidation before prospect of correction due to loss of upward momentum.

On the downside, only below 107.20/22 would yield weakness towards 106.93.

Data to be released on Wednesday:
Japan business survey index, U.S. MBA mortgage application, PPI final, PPI core, wholesale inventories, wholesale sales and Canada capital utilization.

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AceTraderFx Sept 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 16 Sept 2019 09:30GMT

USD/JPY - 107.88
Dollar's rebound to 107.93 after opening lower to 107.48 in New Zealand on weekend Saudi attack suggests pullback from last Friday's high at 108.26 has ended there and re-test of said resistance is seen, break would extend upmove from August's 33-month low at 104.46 to 108.40/50.

On the downside, only below 107.48 signals a temporary top is made and risks fall to 107.19 but 106.93 may hold.

U.S. economic calendar is pretty thin with NY Fed manufacturing index being the only data due out at 12:30 GMT.

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AceTraderFx Sept 17: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 17 Sept 2019 09:30GMT

USD/JPY - 108.16
Dollar's intra-day break of last Friday's top at 108.26 to a 6-week high of 108.36 (Asia) suggests recent upmove from August's 33-month trough at 104.46 has resumed and would head to 108.74 after consolidation before prospect of correction due to loss of momentum.

On the downside, only below 107.69 signals temporary top is made and yield stronger retracement to 107.48/53.

The Fed will start its 2-day FOMC meeting today and on the data front, we have Redbook sales, industrial production, capacity utilization, manufacturing output, and NAHB housing market index.

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AceTraderFx Sept 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 18 Sept 2019 09:30GMT

USD/JPY - 108.18
Dollar's retreat after yesterday's gain to a 6-week high at 108.36 suggests recent upmove from August's 33-month trough at 104.46 has made a temporary top and range trading would be seen before said rise extends to 109.03 but 109.31 would hold and yield correction.

On the downside, only below 107.92 would risk stronger retracement towards 107.69, then 107.48.

FOMC and subsequent J. Powell's press conference are the biggest events for the month. Market is pricing in for a 25 basis point rate cut but some are even expecting Fed to restart QE programme, if this does occur, then the greenback would be bashed down hard.
Until then, U.S. will release MBA mortgage applications, building permits n housing starts.

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AceTraderFx Sept 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Sept 2019 09:30GMT

USD/JPY - 108.04
Despite dollar's rise to a fresh 6-week high at 108.47 in post FOMC New York, intra-day selloff to 107.80 (Asia) suggests temporary top is in place and subsequent rebound would yield consolidation before price head towards 107.69, however, 107.48 would hold and bring correction.

On the upside, only above 108.47 would risk gain to 108.74 before prospect of retreat due to loss of momentum.

Data to be released later:
Swiss trade balance, exports, imports, SNB interest rate decision, Germany wholesale price index, EU current account, UK retail sales, retail sales ex-fuel, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut, BOE interest rate decision, BOE QE total, BOE QE corp bond purchases.
And U.S. current account, initial jobless claims, Philadelphia Fed's manufacturing survey, existing home sales, leading index.

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AceTraderFx Sept 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 20 Sept 2019 09:30GMT

USD/JPY - 107.88
Despite dollar's rise to a fresh 6-week peak at 108.47 Wednesday, subsequent retreat to 107.78 (Europe) today suggests upmove from August's 33-month through at 104.46 has made a temporary top there and downside bias remains for weakness to 107.48 after consolidation but 107.19 would hold.

On the upside, only above 108.13 would indicate pullback has ended and yield re-test of 108.47, break would extend towards 108.74.

T.G.I.F., although no U.S. eco. data is due out today, pay attention to a number of scheduled speeches by Fed officials (please refer to our EI section for details) later today which may move the market.

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AceTraderFx Sept 23: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 23 Sept 2019 09:30GMT

USD/JPY - 107.52
Dollar's selloff from last Wednesday's fresh 6-week peak at 108.47 to 107.48 in Europe today on active safe-haven yen buying signals recent upmove from August's 33-month low at 104.46 has made a temporary top there and weakness towards 107.19 would be seen after consolidation but 106.93 may hold and bring correction.

On the upside, only above 107.78 would yield gain towards 108.13, then 108.47.

Data out later today:
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI,.
U.S. national activity index, Markit manufacturing PMI, Markit services PMI and Canada wholesale trade on Monday.

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AceTraderFx Sept 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 24 Sept 2019 09:30GMT

USD/JPY - 107.62
Although dollar's selloff from last Wednesday's 6-week high at 108.47 to 107.32 yesterday suggests recent upmove has made a temporary top there, subsequent rebound to 107.68 (Asia) today would yield consolidation before re-test of said support is seen after consolidation, break would extend to 107.32, then 107.19 but 106.93 may hold due to loss of momentum.

On the upside, only above 107.78 signals temporary low has made and risk gain to 108.13, then 108.47.
U.S. will later release a slew of eco. data starting with Philly Fed non-mfg business outlook survey, Redbook sales, monthly home price, CaseShiller home price, consumer confidence and Richmond Fed mfg index.

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AceTraderFx Sept 25: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Sept 2019 09:30GMT

USD/JPY - 107.27
Dollar's fall below Monday's low at 107.32 to 106.97 (NY) yesterday on active safe-haven yen buying due to U.S. President Trump's impeachment inquiry signals recent decline from September's 6-week high at 108.47 has resumed, subsequent rebound would bring range trading before prospect of another decline, below 106.97 would extend towards 106.67 but 106.33 should hold.

On the upside, only above 107.42 would yield gain towards 107.79, break, 108.02 later.

Data to be released later:
France consumer confidence, Swiss investor sentiment, UK BBA mortgage application, CBI distributive trades and U.S. MBA mortgage application, building permits, new home sales.

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AceTraderFx Sept 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 26 Sept 2019 09:30GMT

USD/JPY - 107.68
Despite dollar's selloff to 106.97 Tuesday, subsequent rebound to 107.88 in New York yesterday suggests recent decline from last Wednesday's 6-week high at 108.47 has ended and consolidation with upside bias remains for gain to 108.20/30, but 108.47 would hold today.

On the downside, only below 107.42 signals correction has ended and bring re-test of 106.97.

BOJ Gov. Kuroda is due to speak at an annual meeting of securities firms in Tokyo at 06:30GMT. There will be a heavy data dump in U.S. session today, please refer to our EI section for details, pay particular attention to Q2 GDP data at 12:30GMT.
We also have a number of Fed officials scheduled to speak later today too.

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